OREANDA-NEWS. February 09, 2010. The Baltic states and Nordic countries will soon sign an agreement on cooperation to promote financial stability.

On the basis of the agreement a regional cross-border body for information exchanges and other forms of cooperation consisting of representatives of ministries, central banks and financial supervision agencies will be set up, spokeswoman for the Finance Ministry Katrin Reimann said.
"The soon-to-be-signed agreement also provides more detailed instructions for cooperation in a real financial crisis," she said.

The accord is based on the cooperation agreement concluded by all member states of the European Union in spring 2008, she said.

Similar agreements are already in place among central banks and financial supervision bodies of different countries, Reimann added.

The Nordic-Baltic agreement is coordinated by the Danish Ministry of Economy.